MONTGOMERY, INC Statement of Cash Flows (Indirect Method) For Year Ended December 31, 2018 Cash flows...
Exercise 12-12 Indirect: Preparing statement of cash flows LO P2, P3 Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 60,100 Accounts receivable, net 19,800 Inventory 177,500 Total current assets 257,400 Equipment 98,300 Accum. depreciation-Equipment (44,300) Total assets $311,400 Liabilities and Equity Accounts payable $ 47,100 Salaries payable 1,000 Total current liabilities 48,100 Equity Common stock, no par value 216,100 Retained earnings 47,200 Total liabilities and equity $311,480 $ 60,000 23,900 138,000 221,900 81,600 (30,...
MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $ 34,500 $ 34,900 Accounts receivable, net 10,000 12,400 Inventory 89,600 71,700 Total current assets 134,100 119,000 Equipment 49,600 42,400 Accum. depreciation—Equipment (22,400 ) (15,600 ) Total assets $ 161,300 $ 145,800 Liabilities and Equity Accounts payable $ 23,800 $ 25,900 Salaries payable 400 500 Total current liabilities 24,200 26,400 Equity Common stock, no par value 117,100 108,500 Retained earnings 20,000 10,900 Total liabilities and equity $...
Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 31,000 Accounts receivable, net 10,300 Inventory 92,400 Total current assets 133,700 Equipment 51,200 Accum. depreciation-Equipment (23, 100) Total assets $161,800 Liabilities and Equity Accounts payable $ 24,600 Salaries payable 500 Total current liabilities 25,100 Equity Common stock, no par value 112,800 Retained earnings 23,900 Total liabilities and equity $161,800 $ 31,200 12,600 72,800 116,600 43, 100 (16,000) $143,700 $ 26,600 600 27,200 103,400 13,100 $ 143,700...
Prior Year MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Assets Cash $ 32,300 Accounts receivable, net 10,600 Inventory 95, 100 Total current assets 138,000 Equipment 52,700 Accum. depreciation-Equipment (23,880) Total assets $166,990 Liabilities and Equity Accounts payable $ 25,300 Salaries payable 500 Total current liabilities 25,800 Equity Common stock, no par value 117,300 Retained earnings 23,800 Total liabilities and equity $166,960 $ 32,400 13,000 75,1ee 120,500 44,500 16,580) $ 148,500 $ 27,400 600 28,000 107,400 13,160 $148,500 MONTGOMERY...
Following are a statement of cash flows (indirect method) for Harris, Inc., for the year ended December 31, 2017, and the firm’s balance sheet at December 31, 2016: HARRIS, INC. Statement of Cash Flows For the year Ended December 31, 2017 Cash Flows from Operating Activities: Net income $ 13,600 Add (deduct) items not affecting cash: Depreciation expense 32,000 Increase in accounts receivable (7,000 ) Decrease in merchandise inventory 32,800 Increase in accounts payable 4,900 Net cash provided by operating...
Data Table Press Exercise Equipment, Inc. Income Statement Year Ended December 31, 2018 Net Sales Revenue $ 717,000 340,000 377,000 Cost of Goods Sold Gross Profit Operating Expenses: Depreciation Expense $ 46,000 180,000 Other Operating Expenses Total Operating Expenses 226,000 $ 151,000 Net Income i Data Table Press Exercise Equipment, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 Assets Current Assets: Cash Accounts Receivable 18,000 $ 56,000 83,000 14,000 49,000 86,000 Merchandise Inventory Long-term Assets: Plant Assets...
61,600 Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities. Net Income Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities: Depreciation Expense-Plant Assels Decrease in Accounts Receivable Increase in Merchandise Inventory Increase in Accounts Payable 16,800 5,900 (2,900) 1,300 (1.500) 19.600 Decrease in Accrued Liabilities Nel Cash Provided by (Used for) Operating Activities Cash Flows from Investing Activities: 200 s/Ma Net Cash Provided by (Used for) Investing Activites Choose...
MONTGOMERY INC. Comparative Balance Sheets December 31 Current Year Prior Year Assets Cash $ 30,400 $ 30,550 Accounts receivable, net 10,050 12,150 Inventory 90,100 70,150 Total current assets 130,550 112,850 Equipment 49,900 41,500 Accum. depreciation—Equipment (22,500 ) (15,300 ) Total assets $ 157,950 $ 139,050 Liabilities and Equity Accounts payable $ 23,900 $ 25,400 Salaries payable 500 600 Total current liabilities 24,400 26,000 Equity Common stock, no par value 110,000 100,000 Retained earnings 23,550 13,050 Total liabilities and equity $...
Statement of Cash Flows-Indirect Method The comparative balance sheet of Harris Industries Inc. at December 31, 2014 and 2043, is as follows: Dec. 31, Dec. 31, 2014 2013 Assets Cash Accounts receivable (net) Inventories Prepaid expenses $443,240 665,280 887,880 $360,920 592,200 1,022,560 31,640 25,200 Land 302,400 302,400 Buildings 1,713,600 (466,200) 1,134,000 (414,540) Accumulated depreciation-buildings Machinery and equipment Accumulated depreciation-machinery and equipment 781,200 (214,200) 106,960 $4,251,800 781,200 (191,520) 112,000 $3,724,420 Patents Total assets $837,480 32,760 Liabilities and Stockholders' Equity Accounts payable...
Championship Boxing, Inc. Statement of Cash Flows For the Year Ended December 31, 20Y8 Cash flows from (used for) operating activities: Net income $186,540 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation 18,400 Gain on sale of investments (50,000) Changes in current operating assets and liabilities: Increase in accounts receivable (25,410) Increase in inventories (33,450) Increase in accounts payable 41,130 Decrease in accrued expenses payable (12,470) Net cash flow from operating activities $124,740 Cash flows...